Zebec Network (ZBCN) is 5288.4× the size of BlackDuckrwa (BD/SOL) by market capitalisation. Their daily returns move loosely together (correlation 0.60 across 31 shared trading days). Both have run at a similar volatility, around 109% annualised.
BD/SOLZBCN
0.60over 31 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | BD/SOL | ZBCN |
|---|---|---|
| Max drawdown (400d) | -79.9% | -20.8% |
| Risk-adjusted return (90d) | -0.26 | 0.16 |
Relative strength over 90 days: BD/SOL outperformed ZBCN by 13.8% — measured on the BD/SOL/ZBCN ratio, so it holds regardless of market direction.